Press Release
Notice Regarding Revised Forecasts of Earnings and Dividend
March 27, 2018
Chubu Electric Power Co.,Inc.
To reflect latest performance trends, Chubu Electric Power has as follows revised its dividend forecast for the fiscal year ending March 2018 and its full-year forecasted earnings of the fiscal year ending March 2018, previously announced on January 31, 2018.
1 Revision of earnings forecast
Revision of full-year forecasted values for consolidated results of the fiscal year ending March 2018 (April 01, 2017 to March 31, 2018)
|
Sales |
Operating income |
Ordinary income |
Net income to which parent company |
Net income per share |
|
|---|---|---|---|---|---|
|
Previously announced forecast |
2,780,000 |
120,000 |
110,000 |
75,000 |
99.08 |
|
Revised forecast |
2,800,000 |
135,000 |
125,000 |
70,000 |
92.47 |
|
Increased/decreased amount |
20,000 |
15,000 |
15,000 |
-5,000 |
|
|
Rate of increase/decrease |
0.7 |
12.5 |
13.6 |
-6.7 |
|
|
(Reference) Results of previous term |
2,603,537 |
136,443 |
121,483 |
114,665 |
151.43 |
Revision of full-year forecasted values for non-consolidated results of the fiscal year ending March 2018 (April 01, 2017 to March 31, 2018)
|
Sales |
Operating income |
Ordinary income |
Net income |
Net income per share |
|
|---|---|---|---|---|---|
|
Previously announced forecast |
2,530,000 |
100,000 |
80,000 |
55,000 |
72.65 |
|
Revised forecast |
2,550,000 |
115,000 |
95,000 |
50,000 |
66.04 |
|
Increased/decreased amount |
20,000 |
15,000 |
15,000 |
-5,000 |
|
|
Rate of increase/decrease |
0.8 |
15.0 |
18.8 |
-9.1 |
|
|
(Reference) Results of previous term |
2,389,719 |
117,245 |
99,122 |
72,014 |
95.09 |
Reason for revision
As indicated above, we revised the full-year earnings forecast for the fiscal year ending March 2018. This was to reflect how temperatures during the winter pushed up electricity sales, how a stronger yen narrowed down accrued losses incurred by the fuel cost adjustment system, and how extraordinary losses are expected to be registered from thermal power station-related impairment losses.
［Main factors for earnings forecast (Full-year)］
|
Item |
Revised forecast |
Previously announced forecast |
|---|---|---|
|
Electricity sales |
approx. 1,213 |
approx. 1,203 |
|
Crude oil CIF price |
approx. 57 |
approx. 57 |
|
Exchange rate (Interbank) |
approx. 111 |
approx. 112 |
2 Revision of dividend forecast
Dividend forecast for the fiscal year ending March 2018
|
Annual dividend End of second quarter |
Annual dividend End of quarter |
Annual dividend Total |
|
|---|---|---|---|
|
Previous forecast |
|
15 |
30 |
|
Revised forecast |
|
20 |
35 |
|
Dividend for current term |
15 |
|
|
| Dividend for previous term (Fiscal year ending March 2017) |
15 |
15 |
30 |
Reason for revision
Chubu Electric Power's basic stance on shareholder return is to maintain stable dividends by taking account of financial conditions and other factors while continuously investing in building and operating equipment essential for a safe and stable supply of electricity.
As indicated above, we revised the dividend forecast for the fiscal year ending March 2018 considering our improved revenue and expenditure resulting from progress in continuous management streamlining efforts, as well as mid- to long-term financial conditions and business environments.
(Note) The earnings forecast above is premised both on information available as of this document's release date and assumptions as of the same date about uncertain factors that affect future earnings. The actual earnings might differ from those forecasted due to various future factors.